Dear Nabin
What is your exact issue? You want to remove this entry from the CC and post it to some other CC or you want to remove the cost element?
If you want to transfer the entry from one CC to other CC, simply you can use Line item re-posting.
Or else in any case, If you want to delete CE then point to consider is that how many entries are posted to this cost element? If less may be one or two, then you can use program RKACOR20 which can help you in deleting the CO document. This way you can delete the cost element. However it should not be made a practice. Also I suggest that first test in test system and then go forward.
Regards
Rajneesh Saxena